ANALYSIS 🔎
- LRC/BTC was bounded in a descending triangle pattern.
- Price brokeout above the descending triangle's inclined resistance.
- The market hit a swing high and retraced.
- The retracement is currently testing the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's an uptrend continuation potential.
BUY ENTRY ⬆️
- Current market price.
TARGETS 🎯
- Horizontal resistance level (@0.00001611).
- Horizontal resistance level (@0.00002094).
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the 0.786 fibonacci retracement level.
- Final invalidation: breakdown below the descending triangle's horizontal support level .
- LRC/BTC was bounded in a descending triangle pattern.
- Price brokeout above the descending triangle's inclined resistance.
- The market hit a swing high and retraced.
- The retracement is currently testing the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
- There's an uptrend continuation potential.
BUY ENTRY ⬆️
- Current market price.
TARGETS 🎯
- Horizontal resistance level (@0.00001611).
- Horizontal resistance level (@0.00002094).
SETUP INVALIDATION ❌
- Initial invalidation: breakdown below the 0.786 fibonacci retracement level.
- Final invalidation: breakdown below the descending triangle's horizontal support level .